George Soros on dollar reserve currency
From State of Financial Markets George Soros. · · Archivo Geopolitico
“The system was built on American supremacy, and the financial system even more perhaps than the political system. The dollar was the unquestioned reserve currency, that is not the case anymore. And the Washington consensus imposed certain principles of balancing budgets on other countries but did not impose that discipline on the center, on the United States, and we did abuse that privilege by running up this chronic current account deficit.”
On , George Soros, Founder of Open Society Foundations at Open Society Foundations, spoke about dollar reserve currency during State of Financial Markets George Soros. on Archivo Geopolitico.
About George Soros
In a 2010 interview with Chrystia Freeland, George Soros discussed global disorder and the fragility of European institutions. He argued that the European Union, which he described as the embodiment of an "open society," had been transformed by the euro crisis from a voluntary association of equals into a hierarchical structure of creditors and debtors. Soros also characterized Russia under Vladimir Putin as resembling inter-war Germany, calling it "nationalistic and based on resentment," and said the Putin regime's primary interest was preserving itself in power and maximizing rents. Soros stated that sanctions alone were insufficient to address the situation in Ukraine, as they reinforced Putin's narrative of Western hostility. He advocated for a strategy combining sanctions with effective assistance to Ukraine, arguing that a flourishing Ukraine could serve as a role model for people under Putin's domination and eventually bring about change in Russia.